SYSTEM INDUSTRIES TO PAY ABOUT $5m FOR EMULEX CORP’s DEC BUSINESS

System Industries Inc, Milpitas, California has leapt in with an offer to pick up the pieces of the Digital Equipment Corp storage subsystems business Emulex Corp said last week it was abandoning (CI No 1,944). System Industries is to pay $1.875m cash, a secured note for $625,000, and 929,000 new shares, worth about $2.5m, for […]

System Industries Inc, Milpitas, California has leapt in with an offer to pick up the pieces of the Digital Equipment Corp storage subsystems business Emulex Corp said last week it was abandoning (CI No 1,944). System Industries is to pay $1.875m cash, a secured note for $625,000, and 929,000 new shares, worth about $2.5m, for the business, which lost money on sales of $28m in the nine months to March. It is to get the North American, European and Pacific Rim inventory, customer base and service arms.